Resolution No. 36400

Accept Portland Development Commission Report and assist implementation of the public obligations under the South Waterfront Project Development Agreement (Resolution)

WHEREAS, on August 14, 2003, the City Council adopted Resolution No. 36163, which, among other things, accepted the South Waterfront Central District Project Development Agreement (“Development Agreement”) and directed various City Bureaus to work with the Portland Development Commission (“PDC”) to develop Intergovernmental Agreements to implement the public obligations undertaken by PDC as specified in that Agreement; and

WHEREAS, the City Council previously authorized various Intergovernmental Agreements between City bureaus and offices with PDC and authorized various contracts in order to assist PDC in carrying out the public obligations under the Development Agreement; and

WHEREAS, the PDC Commission forwarded to the Council a Report that includes a copy of Resolution No. 6348, South Waterfront Public Projects Funding Proposal, adopted on April 11, 2006, which is attached to this Resolution as Exhibit A; and

WHEREAS, on April 12, 2006, the City Council adopted Resolution No. 36398, that directed the Portland Office of Transportation (“PDOT”) to complete construction of the Portland Aerial Tram as part of the North Macadam Urban Renewal Area; and

WHEREAS, PDC, North Macadam Investors, LLC (“NMI”), River Campus Investors, LLC (“RCI”), Oregon Health & Science University (“OHSU”) and Block 39, LLC (collectively the “Developer Parties”) will soon execute the proposed Eighth Amendment to the Development Agreement based on the funding plan adopted in PDC Resolution No. 6348; and

WHEREAS, PDC is responsible for coordinating and guiding development of the South Waterfront Plan Area on behalf of the City in accordance with the vision and goals of the South Waterfront Plan; and

WHEREAS, the PDC’s execution of the proposed Eighth Amendment to the Development Agreement will require various City Bureaus and Offices to assist PDC in the performance of the public obligations that PDC has undertaken. In addition, there are other obligations that the City will undertake in regard to the South Waterfront Project plan. These formal actions will include the following, unless it is determined that such actions need not be approved by Council:

1.  Adoption of an ordinance approving an amended contract with Kiewit Pacific Company that increases the contract amount for the construction of the Portland Aerial Tram;

2.  Adoption of an ordinance authorizing the City to extend additional lines of credit in order to obtain interim financing for costs related to the Portland Aerial Tram;

3.  Adoption of ordinances authorizing the City to extend additional lines of credit in order to obtain interim financing for costs related to approved projects other than the Portland Aerial Tram;

4.  Adoption of a resolution formally accepting the Eighth Amendment to the Development Agreement provided that the Amendment is approved and executed by the Developer Parties;

5.  Adoption of ordinances approving amendments to the Intergovernmental Agreements (IGAs) that currently exist between various City bureaus and offices and other parties, including the IGA between PDC and PDOT, the IGA between PDC and the City’s Office of Management and Finance (“OMF”), the IGA between PDC and the City’s Bureau of Parks & Recreation, and the IGA between the City and OHSU;

6.  Adoption, if necessary, of an ordinance approving alternative financing for NMI’s assessment obligations, depending on the alternative financing actually selected;

7.  Adoption of an ordinance providing funding to the City’s Bureau of Parks & Recreation;

8.  Adoption of an ordinance regarding the design and construction of the final improvements for the Neighborhood Park;

9.  Adoption of an ordinance establishing an LID for assessment of property owners specially benefited by the extension of the Portland Streetcar to Lowell Street;

10.  Adoption of an ordinance authorizing execution of a contract for the extension of the Portland Streetcar to Lowell Street;

11.  Adoption of an ordinance authorizing execution of an IGA between PDOT and the Oregon Department of Transportation in regard to air rights above the Oregon State Highway System;

12.  Adoption of an ordinance that authorizes the City to proceed with the Gibbs Street Buyout Program;

13.  Adoption of an ordinance that authorizes an IGA with OHSU for operation of the Portland Aerial Tram;

14.  Adoption of an ordinance that authorizes an IGA with OHSU for stormwater and utilities.

NOW, THEREFORE, BE IT RESOLVED that the Portland City Council accepts the Report from PDC attached hereto as Exhibit A; and

BE IT FURTHER RESOLVED that the City Council directs its Bureaus and Offices to assist PDC in the implementation of the public obligations of the Development Agreement and to assist the Council by bringing to it all the necessary resolutions and ordinances that may be required to accomplish those tasks, including, but not limited to, the resolutions and ordinances set forth above in this Resolution.

BACKING SHEET INFORMATION

AGENDA NO. 482-2006

ORDINANCE/RESOLUTION/COUNCIL DOCUMENT NO. 36400